What is a significant benefit of international trade for retailers?

Access to global products and markets serves as a significant benefit of international trade for retailers because it expands their potential customer base beyond local boundaries. By engaging in international trade, retailers can tap into different markets, discovering new demand for their products that may not exist in their home market. This access allows them to diversify their offerings and potentially increase sales by introducing unique products that appeal to various consumer preferences across different cultures and regions.

Furthermore, international markets can provide opportunities for growth that local markets may not offer, especially if the population is saturated or if there is intense competition. Retailers can gain insights into global trends and innovations, which can enhance their business strategy and product mix. This ability not only contributes to greater revenue but also improves a retailer's resilience against domestic market fluctuations by spreading risk across multiple markets.